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 Replies: 43 / Views: 3,931 |
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Pillar of the Community
United States
2168 Posts |
I guess the best way to let things go for me is never wish harm just remember everything that goes around comes around.
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Pillar of the Community
United States
1454 Posts |
Quote:
I guess the best way to let things go for me is never wish harm just remember everything that goes around comes around. Good strategy and life lesson. I've pretty much determined that wishing harm on someone, or negative thoughts in general, harm the wisher (in the form of added stress) far more than the target of one's antipathy. |
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Pillar of the Community
United States
2168 Posts |
Yes because in reality if you become like that you are becoming exactly what you despise in the long run
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Pillar of the Community
United States
4008 Posts |
I am not wishing them harm. But I AM asking for justice.  |
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Pillar of the Community
United States
2168 Posts |
Yes, but more than likely not much will happen. Look at Corzine! That was even worse than this since actual account holders funds were taken. Sickening. I wonder who 'won' this one? Winner and loser on every trade
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Rest in Peace
United States
9104 Posts |
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JPM is claiming 4 billion profit none the less for the quarter, but never does a 2 billion dollar blow help, an the ripples from such a loss should be felt for some time.... The important point is that they're admitting both that they lost the $2B, but that there is no way to get it back, which is the same as saying "brace yourselves, this is just the beginning". Or as coinwatch said: Quote:
The warm-up act to bigger bad news? |
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Pillar of the Community
United States
4008 Posts |
I heard a comment on financial TV today about the JPM difficulties being in some very complex derivative instruments that could take quite a while to unwind and that the hedge funds that have the other side of this trade are indicating that they will make this as long and as expensive for JPM as possible. They've got JPM in the wringer and there is no incentive for them not to turn the screws to the absolute max. All this sure makes me wonder what JPM will be doing in the bullion trading arena while all this is transpiring.
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Pillar of the Community
United States
2168 Posts |
I know. This whole derivative scheme of making money that packages everything from credit card and mortgage debt to life insurance policies and even 'dead zone hedge funds'. Sickening that they have grown in the past 10 or so years to represent more 'dollars' than the value of printed money or even all the land in the world. It is really frightening how our money is backed by nothing.
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Pillar of the Community
United States
1454 Posts |
Preaching to the choir, Angel. The derivatives market is a ticking time bomb and there isn't a single individual in a position of power with the intestinal fortitude to defuse it. Now why is that, wonder?
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Pillar of the Community
United States
2764 Posts |
I heard on NPR that the 2B is just the beginning.... they are expecting up to 4B now.
They should make a TV show title "When Capitalism Goes Wrong" w/ the Banks Execs be the casts....
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Pillar of the Community
 United States
808 Posts |
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All this sure makes me wonder what JPM will be doing in the bullion trading arena while all this is transpiring. Heh! Well, considering the worst that could happen is that they(TM) might be forced into covering a significant percentage of their naked silver shorts...we may be seeing that unfolding in the recent and ongoing price drop in Ag. |
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Pillar of the Community
United States
4008 Posts |
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The derivatives market is a ticking time bomb and there isn't a single individual in a position of power with the intestinal fortitude to defuse it. Now why is that, wonder? Hmmm... could it be that they are being paid not to notice the 8,000 lb. elephant in the room? Nah, that would be cynical of me to even think that.  Quote:
Sickening that they have grown in the past 10 or so years to represent more 'dollars' than the value of printed money or even all the land in the world. It is really frightening how our money is backed by nothing. I agree, Angel. Another frightening aspect of this is that very few of the people buying, selling, and trading this financial drek actually understand it or how it works. Most of them do not recognize that they are betting their company on these instruments. Take JPM as a great example. They have $70T on their books in derivatives (yes, $70 TRILLION!) but a net worth of only about $200B. This means that if slightly less than 0.3% of these blow up in their face, they are instantly bankrupt. Of course, they also know that the US gov will not allow them to fail, no matter how idiotic they are with their "investments". Problem is, JPM is not only too big to fail but also too big to save. Their isn't enough money on this planet to bail them out if they flub this derivative scam. If Europe collapses, which it very well might, JPM and the entire US banking system will be right behind them as they hurtle into the financial abyss.  |
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Pillar of the Community
United States
2168 Posts |
I know they have no clue. The traders make tons of $$ and don't even know anything about the underlaying assets. It is legal crime! I happen to know of one that makes so much $$ doing this and it really sickens me that it is allowed. Just as long as you end up on the right end of the trade you get huge bonuses etc. If not basically oh well. Maybe if big enough like the Whale-you might lose your job. And keep all the$$ earned. I seem to recall reading something on trying to make traders accountable. We will wee how that goes if passed. It will be a joke trying to recover. I wated a show on CNBC a few months ago on Enron. What a joke. And that was years ago.
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Valued Member
United States
410 Posts |
According to the latest reports the loses my be up to $5 billion now! I don't think anyone really knows the scope of this.
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Rest in Peace
United States
9104 Posts |
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They've got JPM in the wringer and there is no incentive for them not to turn the screws to the absolute max. All this sure makes me wonder what JPM will be doing in the bullion trading arena while all this is transpiring. If they can turn the screws tightly enuf, maybe they can knock JPM out of their deliberate silver shorting, and who knows what the silver price would go to then? |
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Replies: 43 / Views: 3,931 |
First Page
Posted 05/14/2012 9:22 pm
